New Media: New and Improved!

Remember all those well-funded internet companies back in 2000 that flamed out by trying to stream content over the internet before anyone had broadband? You know, the Iceboxes and their ilk? Well, maybe they could establish themselves as cool retro brands now, like the Converses and RayBans of the internet content world, because as the LAT notes today, internet media is finally a thriving business:

Five years ago, at the height of the dot-com boom, entrepreneurs and visionaries predicted that new online venues would overtake traditional media as viewers like Finn enjoyed shows and other content tailored to their tastes and schedules.

It didn’t happen.

High-speed Internet connections were rare, and few people were willing to wait hours for a 10-minute video clip to download. Plus, most people’s idea of on-demand entertainment was a drive to the local video store. The brutal tech bust seemed to close the book on the aspirations of those who envisioned the Internet transforming the way news and entertainment were produced and consumed.

But it turns out the dot-com crash may just have been the prologue. After licking their wounds, a rash of companies â€” including small players such as ManiaTV, Web giants such as Yahoo Inc. and traditional media titans such as Walt Disney Co. â€” are again investing heavily to bring more audio and video to the Internet.